According to the US
Census Bureau's recent Quarterly Housing Vacancies and Homeownership report,
rates of homeownership look to be holding steady. The homeownership rate
clung to 63.6 percent in the first quarter of 2017, virtually unchanged from
63.7 percent the quarter prior and 63.5 percent the year prior.
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Additional findings
from the study include:
- The
Midwest held the highest homeownership rate in the first quarter, at
67.6 percent, while the West held the lowest at 59 percent.
- Homeownership
rates in the first quarter were also highest among homeowners aged 65
and older, at 78.6 percent, and lowest for homeowners aged 35 and
younger at 34.3 percent.
- The
rate of homeownership among Hispanic Americans markedly rose for the
second straight year in 2016 - a trend against the current par for the
course and currently stands at 46.6 percent.
- The
renter vacancy rate came in at 7 percent. Breaking this down more
specifically, the renter vacancy rate was highest outside
"Metropolitan Statistical Areas" or "MSAs" at 8.7
percent, followed by inside principal cities at 7 percent and in the suburbs
at 6.5 percent.
- The
median asking sales price for vacant for sale housing in the first
quarter was $176,900. The median rent for vacant for rent housing, over
the same period, was $864.
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